Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Translation
Summary of Consolidated Financial Results for the Year Ended March 31, 2025 (Based on Japanese GAAP)
Company name: RICOH LEASING COMPANY, LTD.
Stock exchange listing: Tokyo
Stock code: 8566 URL https://www.r-lease.co.jp/
Representative: President and Chief Executive Officer Tokuharu Nakamura Executive Officer and General
Inquiries: Manager of Corporate Management Division Kentaro Takita TEL +81-50-1702-4203
Scheduled date of ordinary general meeting of shareholders: June 23, 2025 Scheduled date to file Securities Report: June 20, 2025
Scheduled date to commence dividend payments: June 24, 2025 Preparation of supplementary material on financial results: Yes
Holding of financial results meeting: Yes (for institutional investors and analysts)
May 2, 2025
(Amounts less than one million yen are rounded down)
Consolidated financial results for the year ended March 31, 2025 (from April 1, 2024 to March 31, 2025)
Consolidated operating results Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Year ended March 31, 2025
312,156
1.2
21,729
3.4
22,030
2.3
15,658
38.8
Year ended March 31, 2024
308,335
3.2
21,010
(1.0)
21,544
(0.1)
11,278
(24.2)
Note：Comprehensive income for the year ended March 31, 2025： 16,857 Millions of yen 12.8%
for the year ended March 31, 2024： 14,950 Millions of yen 5.2%
Earnings per share
Diluted earnings per share
Profit attributable to
owners of parent/equity
Ordinary profit/total assets
Operating profit/net sales
Yen
Yen
%
%
%
Year ended March 31, 2025
507.99
-
6.9
1.7
7.0
Year ended March 31, 2024
365.89
-
5.2
1.7
6.8
Consolidated financial position
Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
As of March 31, 2025
1,376,211
234,070
17.0
7,593.67
As of March 31, 2024
1,247,276
221,936
17.8
7,199.98
Reference： Shareholders' equity
As of March 31, 2025：234,070 Millions of yen As of March 31, 2024：221,936 Millions of yen
Consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Year ended March 31, 2025
Year ended March 31, 2024
Millions of yen
(94,396)
(753)
Millions of yen
(12,265)
(13,393)
Millions of yen
103,051
4,984
Millions of yen
1,345
4,956
Cash dividends
Annual dividends per share
Total cash dividends (Total)
Dividend payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Year ended March 31, 2024
Year ended March 31, 2025
Yen
-
-
Yen
75.00
80.00
Yen
-
-
Yen
75.00
100.00
Yen
150.00
180.00
Millions of yen
4,623
5,557
%
41.0
35.4
%
2.1
2.4
Year ending March 31, 2026 (Forecast)
-
90.00
-
95.00
185.00
43.2
Forecast of consolidated financial results for the year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Earnings per share
Full year
Millions of yen
320,000
%
2.5
Millions of yen
19,000
%
(12.6)
Millions of yen
19,200
%
(12.8)
Millions of yen
13,200
%
(15.7)
Yen
428.23
Notes
Changes in significant subsidiaries during the year ended March 31, 2025 No
Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements Changes in accounting policies due to revisions to accounting standards and other regulations: Yes Changes in accounting policies due to other reasons: No
Changes in accounting estimates: No
Restatement of prior period financial statements: No
Number of issued shares (common shares)
31,243,223 shares
As of March 31, 2024
31,243,223 shares
As of March 31, 2025
418,649 shares
As of March 31, 2024
418,762 shares
As of March 31, 2025
Total number of issued shares at the end of the period (including treasury shares) Number of treasury shares at the end of the period
Average number of shares during the period
Year ended March 31, 2025 30,824,506 shares Year ended March 31, 2024 30,824,678 shares
Note：The Company's shares held by the trust account related to the stock compensation plan are included in the number of treasury shares at the end of the period (94,700 shares for the fiscal year ended March 2025, and 0 shares for the fiscal year ended March 2024). In addition, it is included in treasury stock to be deducted when calculating the average number of shares during the period (94,700 shares for the fiscal year ended March 2025, 0 shares for the fiscal year ended March 2024).
Consolidated financial statements Consolidated balance sheets(Millions of yen) As of March 31, 2024 As of March 31, 2025
Assets Current assets | ||
Cash and deposits | 4,956 | 1,345 |
Notes and accounts receivable - trade | 233 | 226 |
Installment receivables | 175,125 | 183,519 |
Lease payments receivable | 24,335 | 21,035 |
Lease receivables and investments in leases | 506,140 | 547,643 |
Accounts receivable - operating loans | 260,176 | 276,515 |
Accounts receivable - other loans to customers | 10,806 | 8,354 |
Other operating assets | 12,259 | 9,962 |
Accounts receivable - lease | 9,655 | 10,973 |
Other current assets | 54,845 | 66,216 |
Allowance for doubtful accounts | (7,112) | (6,367) |
Total current assets | 1,051,425 | 1,119,425 |
Non-current assets Property, plant and equipment Assets for lease | ||
Assets for lease | 89,456 | 138,863 |
Total assets for lease | 89,456 | 138,863 |
Own-used assets Machinery and equipment | 29,236 | 33,866 |
construction in progress | 9,724 | 1,392 |
Other own-used assets | 1,473 | 1,426 |
Total own-used assets | 40,433 | 36,684 |
Total property, plant and equipment | 129,890 | 175,548 |
Intangible assets Assets for lease | 34 | 21 |
Other intangible assets | 9,564 | 11,366 |
Total intangible assets | 9,598 | 11,387 |
Investments and other assets Investment securities | 35,129 | 43,452 |
Distressed receivables | 5,939 | 478 |
Deferred tax assets | 4,649 | 5,435 |
Other | 16,170 | 20,952 |
Allowance for doubtful accounts | (5,527) | (469) |
Total investments and other assets | 56,361 | 69,850 |
Total non-current assets | 195,850 | 256,786 |
Total assets | 1,247,276 | 1,376,211 |
(Millions of yen) As of March 31, 2024 As of March 31, 2025
Liabilities Current liabilities | ||
Notes and accounts payable - trade | 21,567 | 21,282 |
Short-term loans payable | - | 7,000 |
Current portion of bonds payable | 50,000 | - |
Current portion of long-term borrowings | 114,200 | 127,000 |
Current portion of long-term payables under securitization of lease receivables | 11,434 | 8,432 |
Commercial papers | 25,000 | 75,000 |
Underwriting debt payment | 2,686 | 583 |
Lease liabilities | 22 | 35 |
Income taxes payable | 2,411 | 5,404 |
Advances received - lease | 4,465 | 5,216 |
Deferred profit on installment sales | 24,354 | 25,806 |
Provision for bonuses | 1,429 | 1,616 |
Provision for bonuses for directors (and other officers) | 56 | 71 |
Other current liabilities | 42,176 | 47,014 |
Total current liabilities | 299,805 | 324,462 |
Non-current liabilities | ||
Bonds payable | 80,000 | 140,000 |
Long-term borrowings | 621,300 | 661,000 |
Long-term payables under securitization of lease receivables | 9,583 | 1,151 |
Lease liabilities | 135 | 89 |
Retirement benefit liability | 614 | 455 |
Guarantee received | 12,149 | 13,006 |
Asset retirement obligations | 1,455 | 1,686 |
Other noncurrent liabilities | 296 | 288 |
Total non-current liabilities | 725,534 | 817,678 |
Total liabilities | 1,025,339 | 1,142,141 |
Net assets Shareholders' equity | ||
Share capital | 7,896 | 7,896 |
Capital surplus | 10,215 | 10,372 |
Retained earnings | 201,540 | 212,421 |
Treasury shares | (1,674) | (1,777) |
Total shareholders' equity | 217,978 | 228,913 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 3,470 | 4,516 |
Deferred gains or losses on hedges | 538 | 644 |
Remeasurements of defined benefit plans | (50) | (3) |
Total accumulated other comprehensive income | 3,957 | 5,157 |
Total net assets | 211,936 | 234,070 |
Total liabilities and net assets | 1,247,276 | 1,376,211 |
(Millions of yen)
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | |
Net sales | 308,335 | 312,156 |
Cost of sales | 262,768 | 263,609 |
Gross profit | 45,567 | 48,546 |
Selling, general and administrative expenses Commission expenses | 5,344 | 6,175 |
Employees' salaries and allowances | 6,811 | 7,185 |
Provision for bonuses | 1,429 | 1,616 |
Provision of allowance for doubtful accounts | 1,381 | 1,143 |
Other | 9,590 | 10,696 |
Total selling, general and administrative expenses | 24,557 | 26,816 |
Operating profit | 21,010 | 21,729 |
Non-operating income Interest income | 68 | 187 |
Dividend income | 294 | 359 |
Gain on investments in investment partnerships | 485 | 182 |
Other | 31 | 31 |
Total non-operating income | 879 | 760 |
Non-operating expenses Interest expenses | 78 | 174 |
Commission expenses | 10 | - |
Bond issuance costs | 160 | 236 |
Social Contribution | 78 | 34 |
Other | 18 | 14 |
Total non-operating expenses | 345 | 459 |
Ordinary profit | 21,544 | 22,030 |
Extraordinary income Gain on sale of investment securities | - | 425 |
Total extraordinary income | - | 425 |
Extraordinary losses | ||
Loss on valuation of investment securities | 5,189 | 74 |
Total extraordinary losses | 5,189 | 74 |
Profit before income taxes | 16,354 | 22,381 |
Income taxes - current | 5,866 | 8,058 |
Income taxes - deferred | (790) | (1,335) |
Total income taxes | 5,075 | 6,722 |
Profit | 11,278 | 15,658 |
Profit attributable to non-controlling interests | - | - |
Profit attributable to owners of parent | 11,278 | 15,658 |
Consolidated statements of comprehensive income | (Millions of yen) | |
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | |
Profit | 11,278 | 15,658 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 3,723 | 1,045 |
Deferred gains or losses on hedges | (102) | 106 |
Remeasurements of defined benefit plans, net of tax | 51 | 47 |
Total other comprehensive income | 3,672 | 1,199 |
Comprehensive income | 14,950 | 16,857 |
Comprehensive income attributable to Comprehensive income attributable to owners of parent | 14,950 | 16,857 |
Comprehensive income attributable to non-controlling interests | - | - |
Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 7,896 | 10,159 | 195,040 | (1,680) | 211,416 |
Changes during period | |||||
Dividends of surplus | (4,777) | (4,777) | |||
Profit attributable to owners of parent | 11,278 | 11,278 | |||
Purchase of treasury shares | (1) | (1) | |||
Disposal of treasury shares | 7 | 7 | |||
Restricted stock remuneration | 55 | 55 | |||
Change in ownership interest of parent due to transactions with non-controlling interests | - | ||||
Net changes in items other than shareholders' equity | |||||
Total changes during period | - | 55 | 6,500 | 6 | 6,562 |
Balance at end of period | 7,896 | 10,215 | 201,540 | (1,674) | 217,978 |
Accumulated other comprehensive income | Total net assets | ||||
Valuation difference on available-for-sale securities | Deferred gains or losses on hedges | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | ||
Balance at beginning of period | (253) | 640 | (102) | 285 | 211,701 |
Changes during period | |||||
Dividends of surplus | (4,777) | ||||
Profit attributable to owners of parent | 11,278 | ||||
Purchase of treasury shares | (1) | ||||
Disposal of treasury shares | 7 | ||||
Restricted stock remuneration | 55 | ||||
Change in ownership interest of parent due to transactions with non-controlling interests | - | ||||
Net changes in items other than shareholders' equity | 3,723 | (102) | 51 | 3,672 | 3,672 |
Total changes during period | 3,723 | (102) | 51 | 3,672 | 10,234 |
Balance at end of period | 3,470 | 538 | (50) | 3,957 | 221,936 |
Fiscal year ended March 31, 2025
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 7,896 | 10,215 | 201,540 | (1,674) | 217,978 |
Changes during period | |||||
Dividends of surplus | (4,777) | (4,777) | |||
Profit attributable to owners of parent | 15,658 | 15,658 | |||
Purchase of treasury shares | (468) | (468) | |||
Disposal of treasury shares | 159 | 310 | 469 | ||
Restricted stock remuneration | (2) | 55 | 53 | ||
Change in ownership interest of parent due to transactions with non-controlling interests | (0) | (0) | |||
Net changes in items other than shareholders' equity | |||||
Total changes during period | - | 157 | 10,880 | (102) | 10,935 |
Balance at end of period | 7,896 | 10,372 | 212,421 | (1,777) | 228,913 |
Accumulated other comprehensive income | Total net assets | ||||
Valuation difference on available-for-sale securities | Deferred gains or losses on hedges | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | ||
Balance at beginning of period | 3,470 | 538 | (50) | 3,957 | 221,936 |
Changes during period | |||||
Dividends of surplus | (4,777) | ||||
Profit attributable to owners of parent | 15,658 | ||||
Purchase of treasury shares | (468) | ||||
Disposal of treasury shares | 469 | ||||
Restricted stock remuneration | 53 | ||||
Change in ownership interest of parent due to transactions with non-controlling interests | (0) | ||||
Net changes in items other than shareholders' equity | 1,045 | 106 | 47 | 1,199 | 1,199 |
Total changes during period | 1,045 | 106 | 47 | 1,199 | 12,134 |
Balance at end of period | 4,516 | 644 | (3) | 5,157 | 234,070 |
Consolidated statements of cash flows | ||
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2024 | March 31, 2025 | |
Cash flows from operating activities | ||
Profit before income taxes | 16,354 | 22,381 |
Depreciation of assets for lease | 16,843 | 18,736 |
Depreciation and loss on retirement of own-used assets | 2,745 | 3,754 |
Loss on valuation of investment securities | 5,189 | 74 |
Loss (gain) on sale of investment securities | - | (425) |
Increase (decrease) in allowance for doubtful accounts | (290) | (5,803) |
Increase (decrease) in provision for bonuses | 65 | 186 |
Increase (decrease) in provision for bonuses for directors (and other officers) | (9) | 15 |
Increase (decrease) in retirement benefit liability | (76) | (90) |
Interest and dividend income | (362) | (546) |
Capital costs and interest expenses | 2,080 | 3,885 |
Bond issuance costs | 160 | 236 |
Loss (gain) on investments in investment partnerships | (485) | (182) |
Decrease (increase) in installment receivables | 6,807 | (6,943) |
Decrease (increase) in lease payments receivable | 3,034 | 3,299 |
Net decrease (increase) in lease receivables and investments in leases | 3,511 | (41,252) |
Decrease (increase) in accounts receivable - operating loans | (6,470) | (16,338) |
Decrease (increase) in accounts receivable-other loans tocustomers | 20,391 | 2,452 |
Decrease (increase) in accounts receivable - lease | 3,750 | (1,317) |
Purchase of assets for lease | (44,551) | (92,051) |
Increase (decrease) in trade payables | 1,572 | (285) |
Decrease (increase) in distressed receivables | (5,336) | 5,460 |
Other, net | (16,234) | 18,808 |
Subtotal | 8,689 | (85,944) |
Interest and dividends received | 223 | 395 |
Interest paid | (1,627) | (3,488) |
Income taxes paid | (8,037) | (5,359) |
Net cash provided by (used in) operating activities | (753) | (94,396) |
Cash flows from investing activities | ||
Purchase of short-term and long-term investment securities | (4,193) | (5,069) |
Proceeds from sale and redemption of short-term and longterm investment securities | 2,300 | 3,667 |
Purchase of own-used assets | (12,102) | (11,266) |
Other, net | 601 | 403 |
Net cash provided by (used in) investing activities | (13,393) | (12,265) |
(Millions of yen)
Fiscal year ended Fiscal year ended
March 31, 2024 March 31, 2025
Cash flows from financing activities | ||
Net increase (decrease) in short-term borrowings | - | 7,000 |
Net increase (decrease) in commercial papers | (11,000) | 50,000 |
Proceeds from long-term borrowings | 123,500 | 166,700 |
Repayments of long-term borrowings | (103,000) | (114,200) |
Repayments of payables under securitization of lease receivables | (14,577) | (11,434) |
Proceeds from issuance of bonds | 44,839 | 59,763 |
Redemption of bonds | (30,000) | (50,000) |
Proceeds from sales of treasury shares | - | 467 |
Purchase of treasury shares | (0) | (468) |
Dividends paid | (4,777) | (4,777) |
Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation | - | (0) |
Net cash provided by (used in) financing activities | 4,984 | 103,051 |
Net increase (decrease) in cash and cash equivalents | (9,163) | (3,610) |
Cash and cash equivalents at beginning of period | 14,119 | 4,956 |
Cash and cash equivalents at end of period | 4,956 | 1,345 |